Albaraka Bank Limited

Albaraka Bank Limited

AlBaraka Bank Limited provides various Islamic banking products and services for individuals, small and medium enterprises, and businesses in Pakistan. It accepts various deposit accounts, including basic banking, current, savings, senior citizen, business, and young saver accounts, as well as term deposits; and family Takaful plans under the Sarparast name. The company also offers auto and home financing, and travel services; corporate banking services, such as working capital, medium and long term, project, trade, and import and export financing, as well as Islamic export refinancing services; and merchant/commercial/corporate cards. In addition, it provides investment banking services comprising raising funds through syndications, corporate re-organization, infrastructure development, mergers and acquisitions, and project financing advisory solutions; structured finance, and securitization and IPO structuring solutions; and private equity, trusteeship, and regional financial markets access solutions. Further, the company offers SME banking services, such as SME financing, SME deposit services, PMYBFS scheme, and agriculture credit; debit cards, foreign exchange, bill payment, and other services, as well as phone and mobile; and safe deposit lockers and e-statements. AlBaraka Bank Limited was formerly known as Albaraka Islamic Bank Pakistan and changed its name to AlBaraka Bank Limited on October 30, 2010. The company was founded in 1991 and is headquartered in Karachi, Pakistan. AlBaraka Bank Limited operates as a subsidiary of Al Baraka Islamic Bank B.S.C.